Thursday, August 23, 2007

What Jim Cramer Does After Beating the Monkey

If you haven't been following the story, Jim Cramer beat Leonard the Wonder Monkey last week in CramerWatch's stock picking contest.
When not beating the monkey, Cramer writes this in New York Magazine:

The subprime-lending crisis is worse than you think, and could crush financial and real-estate markets for years.

You’re losing money right now. This very minute. You’re losing money if you own an apartment. You’re losing money if you own a country home. You’re losing money if you own a stock or bond mutual fund. You’re losing money if you have a pension plan. You’re probably losing money here or there, you’re probably losing money everywhere (except maybe from your savings account and wallet). But this is no Dr. Seuss story. It’s more of a John Steinbeck tale, and we are the victims, a new generation of Tom Joads, and it’s the damn bankermen who broke us. No, there won’t be a police officer to investigate, and the government, at least this federal government, won’t save us....

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